settlement-negotiation

Vocabulary Word

Definition

In its simplest form, 'settlement-negotiation' involves coming to an agreement or resolution to a conflict or dispute through a process of discussion and compromise.

Examples in Different Contexts

For real estate transactions, 'settlement negotiation' can refer to the process of agreeing on the terms of a property sale, including price adjustments and closing dates. A real estate agent might explain, 'Successful settlement negotiation is key to closing deals that meet the needs of both buyers and sellers.'

Practice Scenarios

Tech

Scenario:

The software company has increased the licensing fees dramatically. We need to address this issue before renewing our contract.

Response:

A settlement negotiation with the software company could lead to a review of the licensing fee structure.

Creative

Scenario:

The artist is alleging copyright infringement on an image we used. We may have to reconsider our creative asset sourcing.

Response:

Maybe we should start a settlement negotiation with the artist to avoid a lawsuit over the copyright.